POS, now you know Newman was embarrassingly ridiculed comparing Queensland to Greece and Spain.
WA's debt situation is not too dismilar to Qld's...and that debt was essentially produced by the LNP over there. So, if you want to continue the Greece comparison then throw WA in the mix.
Just as a lazy comparison say to BHP.
* Qld has debt gearing of about 43%, BHP has gearing of 52%.
* Qld's debt as a % of it's annual income is 134%, BHP's is 50% of its annual income.
You might say shock horror that last dot point but the fact is Queensland invests in a bunch of assets that don't generate revenue (schools, hospitals, etc).
I would say that Qld doesn't look to shabby viz BHP in balance sheet terms.
